Kids and money: Make saving fun

When it comes to teaching kids about saving and spending money, it can be a hard sell unless you also make it fun and have the right tools.

Piggy bank: Kids need somewhere to put their money. Look for something different, not the ordinary piggy bank (unless your child especially likes farm animals). Look for humorous banks, such as a fat, smiling pig lying on its side, clear glass so the "wealth" inside can be seen, or for kids who like crafts, look online for instructions to make a plastic bottle piggy bank, complete with legs.

Toys: Look for Zillions, an ATM bank for kids with sound and lights, a bill and coin feeder, and an LCD screen to give account information. Look for coin banks with a kitten that stretches out a paw to snatch the coin. See Schylling's My Secret Steel Safe, complete with coin slot, combo lock and alarm, or see the Frontier Safe without alarm. Look for the Digi-Piggy for a bank with a digital readout of the cash within.

Stocks: Explain what stocks are and how they work, that the child will own a small piece of the company. Open a custodial account and buy a few shares in a company the child knows, such as Disney, Domino's Pizza or Kellogg. Go online to www.oneshare.com and click on For Kids or For Teens to see long lists of possibilities. Order the stock certificate, frame it and hang it in the kid's room.

Wallets: For every cartoon character, sport, Disney film or superhero, there is a wallet with that image for younger kids. For older kids, go with a real wallet. Get them started with a small amount of cash.

Games: Look for video games with a money component, such as Gen i Revolution's credit mission, Sand Dollar City, Fun Vault and Bite Club for older kids. Check each game in advance to be sure it's in line with your own money philosophy.

The tools aren't all kids need to learn to save money; they need instruction and daily examples from you. Search online for "teach kids to save money" and you'll find plenty of help, starting when they're about age 3. They need to know about waiting for what they want to buy, setting short- and long-term goals, making choices, earning money from doing chores, dividing money into saving versus spending cash, and saving by buying on sale.

David Uffington regrets that he cannot personally answer reader questions, but will incorporate them into his column whenever possible. Send email to [email protected]. (c) 2014 King Features Synd. Inc.